Debt is a problem now

Politicians mislead us to believe that the harm of our $16 trillion - and ever deepening - national debt is going to be the problem of future generations.

Talk like this is wrong and deceptive because the real harm is happening right now - not later. After all, deficits 48 of the last 50 years haven't changed how Congress operates today. No, instead the harm is happening every day as each deficit dollar is created and spent. Every one of the roughly 2,700,000,000 (two billion, seven hundred million) dollars the federal government creates each day makes our existing dollars worth less and less. The harm is exactly the same as if those dollars were created by counterfeiters. Our incomes, savings, and investments slowly and steadily decline in value. Businesses slowly and steadily raise prices to keep up with dollars that continue to become worth less and less. The harm comes to us from continually rising prices everywhere we shop. And who is hurt the most? As always, the poor, the unemployed, and the retired - those who cannot readily increase their incomes to keep up with the rising prices.

The insidious practice of deficit spending is harming everyone, here and now, day by day.

Scott Liddicoat

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Debt is a problem now

Politicians mislead us to believe that the harm of our $16 trillion ? and ever deepening ? national debt is going to be the problem of future generations.

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